Winsway and Marubeni will pay C$10 a share in cash, a premium of 70 percent to Grande Cache's closing share price on Oct. 28, the Calgary-based mining company said today in a statement.

Grand Cache Coal mines metallurgical coal in west-central Alberta. It holds leases covering more than 22,000 hectares containing about 346 million metric tons of coal in the Smoky River Coalfield in the province, Grande Cache said in the statement.